What is a negative pledge covenant? Should its inclusion increase or decrease the yield spread when the bond is issued? What is the difference between negative pledge and pari passu?

What type of bonds offer protection against increases in market interest rates? What type of bonds offer protection against decreases in market interest rates? Briefly explain.

Whose risk do putable bonds limit? What about callable bonds? Briefly explain.

Briefly explain the main features and advantages of floating rate bonds and inflation link bonds.